Query: Please suggest an analysis for Bluedart with the right entry, exit.
Answer: This stock is not an intraday stock to trade. It can be taken for a short-term or swing trade. For short-term or swing trade, we have to take a higher time frame, like weekly, daily to do the analysis.
The weekly chart shows the price has a support zone at the range 5350 - 5500, and resistance is at the range 7000 - 7300.
And also we can see a head and shoulder pattern in the weekly chart. It is a bearish pattern.
If the price comes to the level 5500, we can take entry with the stop loss of 5250 for the targets 5800, 5950, 6300, 6550, 6900 and 7200. This is pullback entry, and it can work if there is bullish strength at the 5500 zone.
Or if the price is showing bullish strength from the current level, buy above 6800 with the stop loss of 6500 for the targets 7100, 7300, 7550, 7850 and 8100.
Do your own analysis and remember, the price has a head and shoulder pattern, which is bearish and if your risk-taking ability permits, then only take a position.
Answer: This stock is not an intraday stock to trade. It can be taken for a short-term or swing trade. For short-term or swing trade, we have to take a higher time frame, like weekly, daily to do the analysis.
The weekly chart shows the price has a support zone at the range 5350 - 5500, and resistance is at the range 7000 - 7300.
And also we can see a head and shoulder pattern in the weekly chart. It is a bearish pattern.
If the price comes to the level 5500, we can take entry with the stop loss of 5250 for the targets 5800, 5950, 6300, 6550, 6900 and 7200. This is pullback entry, and it can work if there is bullish strength at the 5500 zone.
Or if the price is showing bullish strength from the current level, buy above 6800 with the stop loss of 6500 for the targets 7100, 7300, 7550, 7850 and 8100.
Do your own analysis and remember, the price has a head and shoulder pattern, which is bearish and if your risk-taking ability permits, then only take a position.
Role I play here : Moderator. Follow me in telegram to trade better. t.me/Analysis4Newbie Contact information : tradingplan4u@gmail.com
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.
Role I play here : Moderator. Follow me in telegram to trade better. t.me/Analysis4Newbie Contact information : tradingplan4u@gmail.com
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.